"Mobile cardiac telemetry systems market to exhibit dynamic growth during the forecast period"

The global mobile cardiac telemetry systems market is mounting competently, growing at a healthier CAGR of 9.1%. Mobile cardiac telemetry systems are essentially used for remote monitoring in real time and transmission of cardiac measures to the doctors or physicians. These are mainly applied for disease indications such as cardiac arrhythmia, heart related conditions, atrial fibrillation, etc. Worldwide, growing incidences and prevalence for cardiac disorders, heart failure among the adult population (mainly above 55 years), and increasing need for advanced and quick real time monitoring of patients along with enhanced patient safety will drive the overall market growth.

"Lead based segment expected to capture a larger market share by 2030"

Advancement in lead based and patch based along with the development in the field of real time data monitoring will improve the overall growth globally. Increased focus on cardio activities and responses of the mobile devices will improve the general state of the cardiovascular diagnostics industry. The lead based segment represents around 65% of the market share globally. Improved diagnostic yield of the mobile cardiac devices expected to generate great demand from the patients. Advanced patch-based telemetry systems are expected to register a CAGR of more than 9.0% in terms of revenue from 2023 to 2030.

Furthermore, the increasing demand in the home care settings is gaining traction slowly owing to speedy expansion in the ageing population. Growing incidence of cardiovascular disorders expected to generate higher growth opportunities for the mobile cardiac system manufacturers in the near future. The global market generally suffers from a deficiency of diversity in products and concentrated price battles. Nevertheless, manufacturers can gain traction from an improved focus on ways of commercializing their brands globally and retaining cost-containment processes. 

"Hospitals generated maximum revenue share in 2021"

Hospitals segment generated maximum market share in the global market. The utilization of lead based technology is high. Increased hospital admissions for cardiovascular diseases, heart conditions and other disorders will boost market growth.  As of 2016, around 28 Mn individuals in the USA were diagnosed with heart disease. Russia has the highest prevalence heart related disease, with more than 1,750 heart disease-related deaths per 100,000 individuals. In 2016, more than 17.5 Mn people died from cardiovascular related diseases, representing around 30% of all worldwide deaths. 

Advancement in bioengineered technology, FDA approval of new devices, increasing population with cardiac issues, and improved outcomes with real time monitoring will drive the overall market growth for mobile cardiac telemetry systems market. Increasing awareness and utilization of lead based systems in the hospitals and ASCs will show significant growth in the near future. 

"Increasing adult population, launch of new mobile devices and the presence of top manufacturers holds the U.S. market in dominant position"

In 2021, the North America region accounted for maximum market share globally due to an upsurge in admissions for cardiac disorders, increasing rates for heart failure, atherosclerosis, angina pectoris and others. Approval of new mobile devices mainly in the diagnostics segment that include real time monitoring of a patient ECG, will have unprecedented levels of relevancy. 

Presently, overall patient cardiac monitoring (on & off site) is rowing efficiently in the developed nations, prevalence and burden of chronic diseases will further spur revenue growth. However, real time accuracy, patient data security, less awareness and usage among the physicians in the emerging regions, high cost, and unstructured product penetration are few major factors restraining the market growth on a global scale.

"Increased research and development with strong product pipelines in the developed regions"

Major players operating in the U.S. mobile cardiac telemetry systems market are Medtronic, Philips, Medicomp Inc., Siemens and others, generating maximum revenue share. Players are developing with advanced monitoring expertise along with integrated solutions. Partnerships with small scale service providers, acquisitions, and improved R&D on top medical technology will invent the development of mobile cardiac telemetry systems market in the emerging nations shortly. 

Key Industry Developments 

• In March 2019, VirtuOx (home respiratory diagnostic provider) launched a new service named CardioCHECK to diagnose cardiac arrhythmias. 
• Biotricity Inc. (medical diagnostic and healthcare technology company) received its 510(k) clearance for its Bioflux device with the U.S. FDA.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mobile Cardiac Telemetry Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mobile Cardiac Telemetry Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mobile Cardiac Telemetry Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mobile Cardiac Telemetry Systems market?
• Which is the largest regional market for Mobile Cardiac Telemetry Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mobile Cardiac Telemetry Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mobile Cardiac Telemetry Systems market worldwide?